Thinking About Making Offer On SFR

[Beau Barry]

My plan is to never sell and keep forever for rental income. My goal is to buy, pay off, then duplicate over and over. The home is 4 bed/2 bath/2 car 2006 year built 2,000 sf block. Purchase price $115,000 and I estimate rental income of $1,100 a month. Taxes are $2,000 a year and insurance is $500. Figure I'll put down 25% so the property cash flows. With a 7% interest rate and estimating 10% a year for maintenance/repair should result in a net income of 10.1% ROI per year. What do you all think? I'm more concerned in making less ROI and having homes in better/more quality neighborhoods.